The City of Richmond, Va. has finalized its $5.5 million purchase of 96 acres of land along Walmsley Blvd., located south of the downtown area near Interstate 95, which was previously aimed for casino development on two occasions.
The city authorities compensated Philip Morris, owned by Altria, with $5.5 million for the properties located at 2001 Walmsley Blvd. and 4700 Trenton Ave. in the Southside of Richmond. The land was the location where the city aimed to permit a casino after state legislators identified the Virginia capital city for a gaming resort chance in 2020.
Richmond collaborated with Urban One, a Maryland-based media group that claims to represent “Black America.” Urban One lacked experience in casino construction or management, although it held a minority stake in MGM National Harbor.
Urban One collaborated with Peninsula Pacific Entertainment and Live Nation to present city voters with ONE Casino + Resort, a $517 million initiative advertised as the "only Black-owned casino in the nation."
In November 2021, residents of Richmond voted against ONE Casino by a close margin of 51% to 49%. City officials launched a second referendum, yet Richmond opposed the $562 million project from Urban One and new ally Churchill Downs by a vote of 62% to 38% in November 2023.
No Casino, Fresh Venture
Following another vote by Richmond residents opposing a casino, state lawmakers prohibited the city from holding additional referendums and relocated the license 25 miles south to Petersburg. Voters in that area approved a casino project by The Cordish Companies, known for operating Live!-themed casinos in Maryland, Pennsylvania, and Louisiana.
The Richmond City Council and former Mayor Levar Stoney (D) stated that Richmond lost an economic opportunity by rejecting the casino.
The city states it will now proceed with soliciting proposals from interested developers for 45 acres of the area. An additional 45 acres will be designated for a public park, while the rest of the land will be allocated for new road infrastructure in and around the park and development area.
"We are thrilled to announce the purchase of this property in Southside,” said Sharon Ebert, Richmond’s deputy chief administrative officer for planning and economic development. “It marks a pivotal step in our commitment to accessible community green space, new economic development, and greater transit connectivity for generations to come.”
Philip Morris once had an operations center located on the site. As part of the $5.5 million deal, the tobacco company will tear down the building and prepare the site for future development.
Southside Economic Advancement
Richmond’s wealthier areas, primarily situated to the north and west of downtown, were held responsible for rejecting the casino. City council members claim the casino would significantly benefit the struggling Southside.
"When the casino failed, it was a council discussion to make sure we don’t lose sight of economic development in the Southside,” Councilor Kristen Nye (D-Southwest Richmond) said last fall in announcing the city's plans to buy the casino site.
Constructing a park on this land will create the Southside's inaugural public green area in the predominantly industrial zone. City officials are optimistic that the property will attract a developer who can create jobs that benefit the community.
